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09999 NTES-S
RTNominal up149.600 +3.000 (+2.046%)
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14/08/2020 15:09

{I-bank focus}Jefferies lifts NetEase Inc (09999) to HK$179

[ET Net News Agency, 14 August 2020] Jefferies Research lifted its target price for
NetEase Inc (09999) to HK$179 from HK$148 and maintained its "buy" rating.
The research house said NetEase's 2Q revenue and earnings were ahead of consensus. It
said that NetEase is in a good position to embrace the increasing demand for game quality
and willingness to pay in China, given its strong R&D capabilities and in-depth
understanding of gamers' behavior
Jefferies believes the paying ratio and ARPU (average revenue per user) in China still
have a lot of room to grow, similar to other entertainment options in China, versus the
overseas market. It raised its 2020-23 non-GAAP net profit to RMB16,960m/19,008m/20,786m
from RMB15,895m/17,306m/18,439m. (KL)

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